Worst Job Growth in a Decade: An Economic Recovery?

Some economists are raising red flags on the topic of the economy which has been dear to the Conservatives' electoral strategy. Job creation has been the weakest in a decade for a non-recession year and the low quality of these limited jobs are cause for concern. If that isn't enough, the national deficit ticked $1.3 billion upward this year.

BMO Economist Benjamin Reitzes observed from StatsCan data earlier this month that Canada created fewer than 175,000 net jobs this year prior to December while the unemployment rate holds steady at 6.9%.

“Compared to November 2012, employment is up a meagre 1%, with both the goods and services sectors clocking in at that pace,” he wrote, adding “this is hardly the stuff of a firm underlying economy.”

Last year, Canada saw average job growth of 25,400 jobs per month, but this year, the Globe and Mail reports the country only produced a little more than half that, an average of 13,400 jobs per month - well below the estimated 17,000 jobs per month needed to account for population growth.
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